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Hydrogen energy storage will become the best option for long-term, large-scale energy storage. With the increasing proportion of renewable energy in power generation under the dual-carbon goal, the transition to a new energy structure gives rise to the need for energy storage solutions. The power industry has become a pilot area for the carbon trading market. Under the policies aimed at reducing carbon emissions, China is transitioning toward a new energy structure, leading to a rapid increase in the installation capacity of renewable energy sources; it is expected that renewable energy will account for over 40% of total electricity generation by 2030. Wind and solar power generation are volatile, which gives rise to the need for energy storage in a new energy structure; long-duration energy storage must meet the requirements of large-scale application and low marginal costs over time. Hydrogen storage will become the optimal choice for long-duration, large-scale energy storage applications, and it is key to achieving carbon neutrality in the field of non-electric energy consumption. Hydrogen storage falls under the category of broader energy storage methods; it involves using excess electricity from wind and solar power to electrolyze water and produce hydrogen, which is then used directly in end-use applications. Hydrogen energy can be deployed on a large scale with low marginal costs over time: the storage cost per kWh is only 1,300 yuan for 1 MWh of storage capacity, which is lower than the 1,500/1,400 yuan costs for lithium/flow batteries; the cost of expanding such storage capacity is lower than that of battery-based systems. To increase storage capacity, hydrogen storage systems require only additional hydrogen tanks, without the need to use rare minerals, and they suffer from no self-degradation, making them more suitable for long-term storage. Furthermore, hydrogen energy is a secondary energy source as important as electricity, and it is key to achieving carbon neutrality in non-electric energy consumption. Non-electric energy consumption accounts for over half of the total, and it constitutes the major source of carbon emissions; hydrogen is key to achieving decarbonization in this sector. Coupling wind and solar power devices with electrolysis systems on the upstream side to produce hydrogen can address the issues related to the utilization of renewable energy and its transmission to the grid. Integrated projects that combine wind, solar, hydrogen production, and storage are being implemented gradually, while diverse zero-carbon applications on the downstream side will expand the market demand. The hydrogen storage market corresponds to an industry scale of hundreds of billions; alkaline electrolyzers are the first to see growth, while PEM electrolyzers emerge later and are more suitable for wind and solar power applications. Based on estimates of renewable energy generation and the demand for hydrogen storage, it is projected that by 2030 the total installed capacity of electrolyzers in the storage sector will reach 57 GW, resulting in approximately 2.3 million tons of green hydrogen, creating a market scale of 100 billion yuan. In terms of electrolyzer technology, alkaline electrolyzers have been the first to see widespread adoption, while PEM electrolyzers are expected to begin to take their place in the long term. Mainstream electrolyzers are divided into alkaline electrolyzers (ALK), proton exchange membrane electrolyzers (PEM), and solid oxide electrolyzers (SOEC). The first two have been commercialized, while SOEC is still in the process of transitioning toward industrial application. With the promotion of current demonstration projects, the purchase cost is the primary factor, and alkaline electrolyzers have significant advantages; it is expected that they will account for over 90% of the market by 2025. As operations move toward a market-based model, the full life cycle cost becomes crucial. When the cost of PEM electrolyzers is 3–4 times that of alkaline electrolyzers, the hydrogen production costs of both types can be made roughly equal. At present, a combination of 80% ALK electrolyzers and 20% PEM electrolyzers represents the most cost-effective solution.